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Business Profile

Investment Management

Webull Financial LLC

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Investment Management.

Complaints

Customer Complaints Summary

  • 122 total complaints in the last 3 years.
  • 115 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:10/02/2023

    Type:Product Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Not allowing close of accounts and transactions of my funds

    Business Response

    Date: 08/18/2024

    Hi ********,

     

    We are unable to discuss account specific details through this platform. Please reach us by phone-************ or ************************************************.

  • Initial Complaint

    Date:09/06/2023

    Type:Product Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I was in possession of at least at 30 shares of **** There was a 10 to 1 reverse split. I now have 2 shares. I am legally entitled to 3. Webull is advising they sold off other fractional shares. Webull has taken the position "After checking with the clearing firm, the lent-out shares and others are in different types and they need to be processed separately. Thus, there will be no share to be issued. But you will still receive cash in lieu of the 0.2 and 0.8 shares. Once the clearing firm receives the cash in lieu from the ***** it will be credited to your account. Thank you."I want my shares, I am *********** at least 1 additional share and want that share. I have not received any compensation and all APE shares and additional *** shares have disapeeared.

    Business Response

    Date: 08/18/2024

    Hi *********,

     

    We are unable to discuss account specific details through this platform. Please reach us by phone-************ or ************************************************.

  • Initial Complaint

    Date:08/21/2023

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I opened up a Webull trading account in 2020 for the purpose of purchasing crypto currency. I made *********** over time and let the account sit with the hope that over time the account would grow organically. A few months ago Webull changed all crypto transactions to it's new Webull Pay App and my account has DISAPPEARED. I have written to the company over a dozen times and they keep putting up roadblocks and new excuses why I can't find my account. It says my password is no good, but when I use it on the Webull Desktop it still works and the account that it is linked to still shows onthe desktop although they claim it is NOT a match for the app. This is OUTRAGEOUS.I just want to close the account and get my money (which is much less than I started with). They keep sending standard responses and I am begging them for someone to talk to, but I am rejected at every turn.

    Business Response

    Date: 08/18/2024

    HI *******,

     

    We are unable to discuss account specific details through this platform. Webull Financial does not hold any crypto assets, not allows trading of crypto assets.  Please contact Webull Pay. 

    Customer Answer

    Date: 08/20/2024

    Better Business Bureau:

    I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because: they moved the crypto assets without my permission and made it extremely difficult to retrieve them from the third party.

    [Your Answer Here]

     

     

     

     

    In order for the BBB to appropriately process your response, you MUST answer the question above.


    Sincerely,

    *******************************




     

    Business Response

    Date: 08/27/2024

    We are unable to discuss account specific details through this platform. Webull Financial does not hold any crypto assets, or allows trading of crypto assets. Please contact Webull Pay. 

  • Initial Complaint

    Date:08/17/2023

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I'm so disappointed with this company name is webull they deactivate my account for nonsense reason clearly this is unacceptable no response no nothing I want my account active

    Business Response

    Date: 08/18/2024

    Hi *****,

     

    We are unable to discuss account specific details through this platform. Please reach us by phone-************ or ************************************************.

  • Initial Complaint

    Date:08/07/2023

    Type:Billing Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    WeBull refuses to close / delete my account When I signed up with WeBull I was gifted a fractional share ( *****% of one share of TSLA ) as a "gift" that is currently worth $10.04.I am currently attempting to close my account but ********************** requires the account to be at zero value. The issue is that webull does not allow me to sell the fractional share or cash it out in any way. They also will not allow me to purchase the ***** of a share needed to make 1 whole share.I've requested the partial share be forfeited. I don't care what they do with it. They can take it back or gift it to charity. I just want the account closed once and for all. This is a bait and switch tactic that is being used by china owned webull to make it difficult/impossible for a user to close the account in such circumstances where a partial share of a stock has been "gifted" to the user.Since they have a direct link to my bank account I am not comfortable leaving the account open. I have sent an email and responded three times so far as the reply from webull is autogenerated and does not even attempt to solve my problem. Please help. It shouldn't be this hard. I have all of my assets transferred out. I just want the account closed immediately.Thank you,***************************

    Customer Answer

    Date: 08/18/2023

    Better Business Bureau:

    I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.

    I want to also say thank you for the response to my letter and complaint.  I really appreciate you all being there to help average people like me and to ensure that business's are behaving in an ethical and fair manner.

    Sincerely,

    ***************************



     

  • Initial Complaint

    Date:07/06/2023

    Type:Service or Repair Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I have an account with **********************. Webull does not have a DRIP program which is something I want. So I decided to move my account/securities from Webull to ******. This should be a fairly straightforward process (that happens all the time). Before TD Ameritrade became ****** I was able to do this without an issue; however, now I have tried to move my account/securities 5-6 times and Webull keeps DENYING the transfer. I have chatted and called with no resolution, they say they will open a case and nothing happens, this has been going on for almost 4 months. I need Webull to approve my transfer of securities to the new brokerage company.

    Business Response

    Date: 08/18/2024

    Hi *******,

     

    We are unable to discuss account specific details through this platform. Please reach us by phone-************ or ************************************************.

  • Initial Complaint

    Date:06/28/2023

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Trying to close out my account after 5 years and they r refusing to release my funds claiming the information they have regarding my bank has changed. I reviewed the information and it's exactly the same as it has for 5 years so theres nothing i can update.Either they have computer errors or they are thieves. Regardless I want my money back and will go to great lengths to have this buisness exploited for fraud

    Customer Answer

    Date: 07/23/2023

    Better Business Bureau:

    At this time, my complaint, ID ******** regarding Webull Financial LLC has been resolved.

    (By clicking "OK", your complaint will be closed as Resolved.)


    Sincerely,

    *******************

    Business Response

    Date: 08/18/2024

    Hi ****,

     

    We are unable to discuss account specific details through this platform. Please reach us by phone-************ or *********************************

  • Initial Complaint

    Date:06/13/2023

    Type:Product Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I had a $45k brokerage account with ********************** and my ID expired so they restricted my account till I can get a updated id on file. Due to me being unable to get a new ID in a timely manner they sent me an email stating that they have decided to end out business relationship as of 5/18/23. In that email they stated that I had ************************************************************ they will liquidate all my stock at current market rate and deposit the proceeds to the account they have on file. I contacted them and ask about the full transfer and was given instructions. On 5/26/23 I received another email stating that the full transfer was completed. However my largest positions for some reason was not transfer over to my new broker. I have contacted them to enquire and I was told I have to exit the "stock lending program" so I tried and that feature was restricted. So after email them again and ask "How is it that you all sent me a 10 day notice to transfer or liquidate my stock, but continue to lend my stocks out for profit?" They reply was I have to tell them to exit me from the program before they will stop lending out my stocks. Would it not be self explanatory that I had no way to stay in the lending program if they decided to end out professional relationship on 5/18/23? I would I have stay in the program if they give me 10 day to get my funds out?I feel webull lended my shares and couldn't cover them when it's time for me to transfer them, and now they are buying themselves time to get the shares. I have lost money in the market because they have my shares tied up and my account restricted. While they rack up profit lending my shares. I feel there is some type of fraudulent activity taking place.

    Customer Answer

    Date: 07/07/2023

    Better Business Bureau:

    At this time, I have not been contacted by Webull Financial LLC regarding complaint ID ********.

    Sincerely,

    ***********************************

    Business Response

    Date: 08/18/2024

    Hi **********

     

    We are unable to discuss account specific details through this platform. Please reach us by phone-###-###-#### or *********************************

  • Initial Complaint

    Date:05/15/2023

    Type:Product Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Webull is a brokerage to trade stocks. They sent an email about a new business relationship with ************************* and clients would be migrated/transferred from a fully disclosed to an omnibus clearing arrangement as the carrying firm. ************************* is that carrying firm and they charge $75 to move funds from Webull account to another brokerage. However, in Webull's email it was mentioned "You Have the Right to Object to the Transfer" and avoid fees. I notified Webull's customer service per their email request. After making sure I was doing things right with Webull, I initiated a transfer at Vanguard. Webull charged me the $75 anyway! Now I'm having a problem with Webull reimbursing me the money. Webull **************** asked for proof that the other brokerage, Vanguard, will not reimburse their fee. Weird..that was never mentioned in the original email. However, I provided that proof too and was told I'm on the refund list. 3.5 months have past now and still no refund. These 3 Webull emails attached detail our conversations and I believe is plenty evidence against Webull. Please help me get my reimbursement. I feel this is theft and there are probably many more Webull customers that were incorrectly charged.

    Business Response

    Date: 05/16/2023

    Hi there,

    Thank you for reaching out! Unfortunately we are unable to identify your Webull ID through this email. Please contact us through our in-app help center to receive better assistance and we will get back to you as soon as possible!

    If you are having problems logging into your Webull account please try your other login method (mobile phone/e-mail) or resetting your password by clicking "Forgot password?" on the login page. If you still have issues or have lost access to your registered email/mobile number, please reply to this email and provide your old email/mobile number and we will be happy to help!

    Regards,
    Webull

    Customer Answer

    Date: 05/16/2023

    Better Business Bureau:

    I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

    Every email attached to my complaint has my Webull Account ID: ********.  All I get from ********************** customer service is excuses and delays.  Take ownership of your mistakes and make things right.  I've always replied with my Account ID.  I will not give up!  I want to resolve through ******************* now.  Reaching out to Webull directly has not worked.  ************************

     

     

     

     

    In order for the BBB to appropriately process your response, you MUST answer the question above.


    Sincerely,

    ***********************




     

    Business Response

    Date: 08/18/2024

    Hi *****

     

    We are unable to discuss account specific details through this platform. Please reach us by phone-###-###-#### or email**************************** 
    Transfer fees are charged by the clearing agent. Visit our pricing page to find out more: ****************

    Customer Answer

    Date: 08/20/2024

    Better Business Bureau:

    I have reviewed the response made by the business in reference to complaint ID ********* and find that this resolution is satisfactory to me and the matter has been resolved.

    Sincerely,

    **** *******    

  • Initial Complaint

    Date:03/13/2023

    Type:Billing Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Date of Transaction: March 10, 2023 Webull Financial withdrew $1,000 from my checking account. Unfortunately I had no knowledge of this company, the withdrawal was UNAUTHORIZED. My credit Union is filing a grievance with Webull and put a block on the account.

    Customer Answer

    Date: 03/16/2023

    Better Business Bureau:

    I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.

    Sincerely,

    *********************************



      Better Business Bureau:

     

    A deposit of $1,000 was made to my checking account 3/15/2023.  The deposit just read deposit so I am assuming it was from Webull to their credit.  I appreciate any efforts your company made on my behalf.


Webull Financial LLC is NOT a BBB Accredited Business.

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